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Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
 India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power generation and is the third largest energy consumer, making it a vital commodity for India. According to Reuters, the country's coal demand for power generation is expected to be 821,000 kt in the focus year 2023-2024, an increase of 8% compared to last year.
Looking at India's seaborne coal imports, there is an increase of 19% from 2021 to 2022, with imports standing at 208,034.13 kt. This year, the country has already imported volumes equivalent to 37% of last year's imports, or 76,728.95 kt, a figure that is expected to rise further as we enter the second half of the year, and it is expected that more coal will be needed to meet the country's electricity demand. A closer look at quarterly coal imports shows that in 2021 and 2022, Q2 was the strongest period with 51,859.07 kt and 64,261.28 kt respectively. This makes sense as India's peak power season is in the summer months and stockpiling is needed to ensure energy security. On the steel front, the country is also experiencing growth in this industry. In 2023, India's steel demand is expected to be in the range of 130mmt -135mmt, about 6% higher than last year.
Taking a look at India's top importers, the top 4 are Indonesia, Australia, South Africa and Russia. As far as Indonesia is concerned, shipments to India have been increasing since 2021 and the trend is likely to continue. They totalled 49,417.93 kt in 2021, 86,675.97 kt in 2022 and currently stand at 31,530.67 kt for 2023, which is 36% of last year's imports. The same cannot be said for Australia and South Africa, as both countries' coal exports to India have been declining since 2021. Australia exported 68,003.09 kt in 2021, 55,440.31 kt in 2022 and 13,384.15 kt so far in 2023, 24% of last year's exports. South Africa exported 24,347.48 kt in 2021, 17,255.53 kt in 2022 and 9,230.68 kt so far in 2023, which is 53% of the 2022 volume, a remarkable figure, and the biggest amongst the top 4 exporters.
The same is true for Russia. India imported 6,987.85 kt in 2021, 18,941.25 kt in 2022, while imports so far stand at 9,523.40 kt, which is 50% of last year's imports. This could be explained by the traditionally lower price of South African coal compared to Australian coal, while Russian coal became more lucrative after the invasion of Ukraine.
The largest percentages of volume shipped to India this year compared to last are from South Africa and Russia, indicating a strong interest to continue on this path. This means that the demand for tonne miles is increasing, which in turn supports freight rates. The vessel types most used in this trade are Kamsarmax and Capesize. If the trend continues and India continues to import more coal from distant countries, rates for the trade may increase.
By Fotis Kanatas
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Australian Coal Association
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
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